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WorksheetsSupply and Demand
Total questions: 20
Worksheet time: 10mins
A person or company that makes, grows, or supplies goods to sell is called the?
demand
price
producer
shortage
A group of buyers and sellers of a particular good or service
Supply
Demand
Agency
Market
A market is said to be in equilibrium when
when demand is higher than the supply
when demand is lower than the supply
when the demand and supply quantities are equal
when the supply is doubled the demand
Which condition would lead to the highest prices?
Low supply, high demand
High supply, high demand
High supply, low demand
Low supply, low demand
If demand for a product increases beyond the ability of produces to supply the product, what will happen to the price of the product?
the price will increase
the price will decrease
the prices will stay the same
the price will decrease until producers can make more
What might happen if the demand for a new type of sneaker began rising quickly?
The manufacturer would begin making fewer sneakers
The sneaker company would raise the price of the sneakers
People would refuse to pay more money for the sneakers
The sneaker company would lower the price of the sneakers
What is likely to happen if the price of a new pair of sneakers went up?
Demand for the sneakers would increase
Demand for the sneakers would decrease
Merchants would begin offering sales on the sneakers
It would be impossible to find a pair in stores
